Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
The good news about the death of the 200 WMA line as a Bitcoin Bottom:
Someday, when 200 WMA is around $223k, there may be a crash from the ATH of $690k down to $176k. At that point, there will be numerous declarations that “Bitcoin is dead.” All the nocoiners who declared that they would buy at $200k will not buy, because they will be awaiting $100k. Some will declare that it’s going to zero.
But no Bitcoiner will be shocked.
Belief in a reliable bottom for a volatile asset is a double-edged sword. That Schelling point has been good for us, up to a point. But if it fails, the effects could be fatal: LTH panic!
In the above hypothetical of the future, Bitcoiners who lived through this crash will just sit back and await $1 million.
Remind me of this post in x years. I want to see how it ages.
Someday, when 200 WMA is around $223k, there may be a crash from the ATH of $690k down to $176k. At that point, there will be numerous declarations that “Bitcoin is dead.” All the nocoiners who declared that they would buy at $200k will not buy, because they will be awaiting $100k. Some will declare that it’s going to zero.
But no Bitcoiner will be shocked.
I am in utter disbelief we just shouldn't be here. 
Belief in a reliable bottom for a volatile asset is a double-edged sword. That Schelling point has been good for us, up to a point. But if it fails, the effects could be fatal: LTH panic!
In the above hypothetical of the future, Bitcoiners who lived through this crash will just sit back and await $1 million.
Remind me of this post in x years. I want to see how it ages.